Bank of Israel holds key rate at 2.25% for August

RobertDaniel

NEW YORK (MarketWatch) -- The Bank of Israel on Monday held its benchmark interest rate at 2.25% for August. The rate started 2012 at 2.75%, sat at 2.5% from February through June and then was cut to 2.25%. The benchmark rate was 3.25% in August 2011. In its accompanying commentary, the central bank said the main factors in its decision included inflation expectations for the next 12 months pegged at the midpoint of its target range of 1% to 3%. In particular, the Bank of Israel said, the increase in the housing component of the consumer-price index over the past year has moderated or stopped. Economic growth within Israel during the first half appears to have stabilized at just under 3%, the central bank said. Economic developments in Europe deteriorated further during July, and further signs of slowing global growth appeared as well, it said. Another factor: Several central banks reduced interest rates in July, the Bank of Israel noted.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information. Intraday data
delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc.
All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More
information on NASDAQ traded symbols and their current financial status. Intraday
data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S&P/Dow Jones Indices (SM)
from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Financial Information and is
at least 60-minutes delayed. All quotes are in local exchange time.